Why Casa Systems Stock Popped Today
Shares of Casa Systems (NASDAQ: CASA) have popped today, up by 23% as of 11:40 a.m. EST, after the telecommunications software company boosted its revenue guidance for fiscal 2019. The company also announced a CFO transition.
Revenue for fiscal 2019 is now expected to be in the range of $275 million to $280 million, up from its prior outlook of $255 million to $270 million in sales. Casa expects to "meet or exceed" its forecasts for gross margin, adjusted EBITDA, and net loss per share. The tech company had previously said gross margin for 2019 should be 50% to 60%, adjusted EBITDA is expected to be breakeven to $10 million, and adjusted net loss per share is forecast to be $0.15 to $0.25.
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Source Fool.com
