We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Intrusion Q3 Loss Narrower Than Expected, Sales Rise Y/Y, Stock Up 12%
Read MoreHide Full Article
Intrusion Inc. (INTZ - Free Report) incurred a third-quarter 2024 loss of 35 cents per share compared with a loss of $2.78 a year ago. The bottom line was narrower than the Zacks Consensus Estimate of a loss of 42 cents. Reduced operating and interest costs due to the conversion of $9.5 million of senior debt to equity helped the company achieve a considerably narrower net loss in the third quarter.
Stay up-to-date with all quarterly releases: See ZacksEarnings Calendar.
Quarterly revenues totaled $1.5 million, up 2.5% year over year and 3% of 3% on a sequential basis. The Zacks Consensus Estimate for revenues was pegged at $2 million. The upside resulted from an increase in Intrusion Shield revenues (up 49% sequentially). This growth reflects a surge in customer demand for cybersecurity solutions and Intrusion’s expanding market reach as it inks more Intrusion Shield logos each quarter. INTZ added seven new customers to its Shield portfolio in the third quarter, bringing the total number of new logos acquired year to date to 18.
In addition, INTZ was awarded a $2 million contract by the U.S. Department of Defense, supporting the government’s growing cybersecurity efforts through its Shield and consulting services. Management anticipates the continued strength of the Intrusion Shield to enhance financial outcomes in the fourth quarter of 2024 and beyond.
In response to the results, INTZ’s shares jumped 11.5%, and the trading session closed at 82 cents on Nov. 12. Shares of the company have lost 92.2% in the past year against the sub-industry's growth of 10%.
Image Source: Zacks Investment Research
Other Details
The gross profit margin was 77%, slightly lower than 78% reported in the prior-year quarter, driven by varying product mixes across quarters.
Total operating expenses for the period were $3.2 million, down from $3.8 million in the previous year quarter.
Operating loss was $2 million, narrowing 24% year over year due to lower operating expenses.
Balance Sheet
As of Sept. 30, 2024, INTZ had total cash and cash equivalents of $1.1 million compared with $1.5 million as of June 30, 2024.
BCE Inc. (BCE - Free Report) reported third-quarter 2024 adjusted EPS of C$0.75 (55 cents) compared with C$0.81 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 57 cents.
Shares of BCE lost 26.4% in the past year.
Itron Inc (ITRI - Free Report) reported non-GAAP EPS of $1.84 for third-quarter 2024, which beat the Zacks Consensus Estimate by 62.8%. The company reported earnings of 98 cents in the prior-year quarter.
Shares of ITRI surged 94.8% in the past year.
Watts Water Technologies, Inc. (WTS - Free Report) reported third-quarter 2024 adjusted EPS of $2.03 compared with $2.04 in the prior-year quarter. The bottom line topped the Zacks Consensus Estimate by 2%.
Shares of WTS have gained 10.4% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Intrusion Q3 Loss Narrower Than Expected, Sales Rise Y/Y, Stock Up 12%
Intrusion Inc. (INTZ - Free Report) incurred a third-quarter 2024 loss of 35 cents per share compared with a loss of $2.78 a year ago. The bottom line was narrower than the Zacks Consensus Estimate of a loss of 42 cents. Reduced operating and interest costs due to the conversion of $9.5 million of senior debt to equity helped the company achieve a considerably narrower net loss in the third quarter.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
Quarterly revenues totaled $1.5 million, up 2.5% year over year and 3% of 3% on a sequential basis. The Zacks Consensus Estimate for revenues was pegged at $2 million. The upside resulted from an increase in Intrusion Shield revenues (up 49% sequentially). This growth reflects a surge in customer demand for cybersecurity solutions and Intrusion’s expanding market reach as it inks more Intrusion Shield logos each quarter. INTZ added seven new customers to its Shield portfolio in the third quarter, bringing the total number of new logos acquired year to date to 18.
Intrusion Inc. Price, Consensus and EPS Surprise
Intrusion Inc. price-consensus-eps-surprise-chart | Intrusion Inc. Quote
In addition, INTZ was awarded a $2 million contract by the U.S. Department of Defense, supporting the government’s growing cybersecurity efforts through its Shield and consulting services. Management anticipates the continued strength of the Intrusion Shield to enhance financial outcomes in the fourth quarter of 2024 and beyond.
In response to the results, INTZ’s shares jumped 11.5%, and the trading session closed at 82 cents on Nov. 12. Shares of the company have lost 92.2% in the past year against the sub-industry's growth of 10%.
Image Source: Zacks Investment Research
Other Details
The gross profit margin was 77%, slightly lower than 78% reported in the prior-year quarter, driven by varying product mixes across quarters.
Total operating expenses for the period were $3.2 million, down from $3.8 million in the previous year quarter.
Operating loss was $2 million, narrowing 24% year over year due to lower operating expenses.
Balance Sheet
As of Sept. 30, 2024, INTZ had total cash and cash equivalents of $1.1 million compared with $1.5 million as of June 30, 2024.
INTZ’s Zacks Rank
INTZ currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
BCE Inc. (BCE - Free Report) reported third-quarter 2024 adjusted EPS of C$0.75 (55 cents) compared with C$0.81 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 57 cents.
Shares of BCE lost 26.4% in the past year.
Itron Inc (ITRI - Free Report) reported non-GAAP EPS of $1.84 for third-quarter 2024, which beat the Zacks Consensus Estimate by 62.8%. The company reported earnings of 98 cents in the prior-year quarter.
Shares of ITRI surged 94.8% in the past year.
Watts Water Technologies, Inc. (WTS - Free Report) reported third-quarter 2024 adjusted EPS of $2.03 compared with $2.04 in the prior-year quarter. The bottom line topped the Zacks Consensus Estimate by 2%.
Shares of WTS have gained 10.4% in the past year.