Barrington Research Maintains Outperform on Perceptron Ahead of Earnings

Barrington Research has a current rating of Outperform for Perceptron Inc. PRCP ahead of a conference call reporting financial results. Price target range is currently $8-$10. According to Barrington Research, expected EPS will reflect a sizeable one-time expense: “We are estimating first quarter revenue of $13.5 million (+5.9%), and a loss of $0.01 per share compared to loss of $0.04 per share a year ago. Perceptron entered the first quarter with the backlog up 32.0% to $26.4 million from a year ago, but down slightly from the third quarter of $27.9 million. … First quarter 2012 result will include a one-time expense related to a $1.9 million ($1.3 million, or $0.15 per share on an after-tax basis) settlement for a lawsuit filed against PRCP back in November 21, 2002 that was disclosed (form 8-K filing) after the close of the first quarter on October 4, which is not included in our estimates.” PRCP closed at $5.85 on Monday.